YES! I want to learn more about property investments.

Recent Changes and Updates, including Ring Fencing

17 June 2019

 

Recent Changes and Updates, including Ring Fencing

 

You might have missed some of this information which affects rental properties.




 

 

 

 




1.  RING FENCING

We are still expecting this to be back dated to 1/4/19.  The Bill has gone through its second reading on 13/06/19.

For property investors who are making a loss, for the year ending 31/03/20 onwards, we expect that this loss won't be able to offset personal income - so NO TAX REFUND.





2.  PRIVACY COMMISSIONER HAS WITHDRAWN "GUIDE TO WHAT LANDLORDS CAN ASK"

It was great to see this.  Otherwise there was suggestion that we couldn't do credit checks and all kinds of essential information gathering.

To find out more, read the full article on Stuff.





3.  INSULATION MUST BE DONE BY 1 JULY 2019

Hopefully you have all done this!





4.  HEALTHY HOMES

In summary:

  • From 1 July 2019 signed statement for all new tenancies that will comply with new Healthy Homes regulations.
  • From 1 July 2021 have to comply with Healthy Homes changes for new tenants.
  • From 1 July 2024 all properties must comply.


Click here for more details.





5.  TWO BANKS

I generally recommend that property investors use a different bank to their personal home when buying a rental.  See more on these two videos.


Two Bank Approach if existing house becoming a rental  youtu.be/GFF_gX1-QMc
 
Using 2 banks to buy a rental property  youtu.be/dFhMvUMtfEU




Still on its way later this week is the second part on strategies to buy more and more rentals.


Kind regards
Ross Barnett

 
 
 
 

Contact Us

For further enquiries or to arrange a free 10-minute no-obligation phone consultation about
your situation and what Coombe Smith can do for you, please email, phone or fill out our contact form. 

We'd love to hear from you!